Japan Adds to Bond Route Selling Treasuries as Currency Hedging Costs Soar

Bonds have collapsed at a rapid pace with soaring inflation and a one-way market. The US dollar has soared at the same time with the BOJ and the Fed Reserve at difference policy ends. The Japanese Central Bank still is an aggressive buyer of JGB’s while the Fed pares its $9 trillion balance sheet. Japanese institutional managers are now selling US bonds, BMO Capital Markets shows they have offloaded almost $60 billion over the past three months. One could argue this … Continue reading “Japan Adds to Bond Route Selling Treasuries as Currency Hedging Costs Soar”

Spiderman Smashes Hulk with Record $US3.36 million Auction for Original Venom Page

The surge in auction prices from collectibles continues to rise despite the rocky start to stock markets in 2022. A single page of artwork from a 1984 Spider-Man comic book sold at auction for a record $US3.36 million. The bidding started at $US330,000 on the first day of Heritage Auctions’ four-day platinum comic event in Dallas. The previous record for an interior page of a US comic book was shattered. The Incredible Hulk 1974 issue that featured a tease for … Continue reading “Spiderman Smashes Hulk with Record $US3.36 million Auction for Original Venom Page”

Erdogan Takes Measures to Protect Turks from Currency Volatility Giving Turkey Lira Reprieve

With the Turkish Lira in freefall Turkey’s President Recep Tayyip Erdogan announced extraordinary measures to save it from the depths Monday. Turkey is introducing a new program that will protect savings from the prices moves and gave the TRY a reprieve. The lira collapse accelerated with Turkey Central Bank sharp rate cuts. Erdogan vows to win his so called “economic war of independence”. With Turks not affording bare necessities as inflation runs rampant from the collapsed currency and elections in … Continue reading “Erdogan Takes Measures to Protect Turks from Currency Volatility Giving Turkey Lira Reprieve”

Turkey A Lesson in Why Central Banks Need to Be Independent as Lira Collapses Accelerates

Turkey is a great lesson on why Central Banks and Governments should be independent. Turkey’s currency, the lira collapse accelerated further after its central bank cut its main interest rate by 1%, from 15% to 14% on Thursday with concerted pressure from President Recep Tayyip Erdogan wanting rates cut to stimulate the economy. Meanwhile Turks can’t afford bare necessities as inflation runs rampant from the collapsed currency. Inflation in Turkey has climbed above 21.7% over the year. “The Committee decided … Continue reading “Turkey A Lesson in Why Central Banks Need to Be Independent as Lira Collapses Accelerates”

Turkey Lira Collapses Another 15% in One Day as Erdogan Defends Rate Cuts

Turkey’s currency, the lira collapse accelerated Tuesday, down 15% on the day. This was its second-worst day ever with the latest catalyst President Tayyip Erdogan defending the Turley Central Bank sharp rate cuts. He vows to win his so called “economic war of independence”. Meanwhile Turks can’t afford bare necessities as inflation runs rampant from the collapsed currency. Erdogan has dug his heals in from the widespread criticism and pleas to reverse course on rates. Highlights (via Reuters) Lira has … Continue reading “Turkey Lira Collapses Another 15% in One Day as Erdogan Defends Rate Cuts”

Oatly Group World’s Original and Largest Oatmilk Company Running Into Headwinds With Record High Oats Prices

Sweden’s Oatly Group is facing headwinds of oats futures near a 7-1/2 hear high. Drought slashed supplies from top global supplier Canada at a time of robust demand for the grain. $OTLY is expanding beyond milk to ice cream, yogurt, cooking creams, spreads and on-the-go drinks Swedish-based Oatley is the world’s original and largest oat milk company with offerings of milk to ice cream, yogurt, cooking creams, spreads, and on-the-go drinks. The company has run into headwinds with food supply … Continue reading “Oatly Group World’s Original and Largest Oatmilk Company Running Into Headwinds With Record High Oats Prices”

Russian Arms Manufacturer Almaz-Antey New Hydrogen Fuel Cell Cars

The Russian government-backed arms manufacturer Almaz-Antey has announced that it is working on a new hydrogen fuel cell passenger car,known as E-NEVA. The hybrid car will be for civilian use. Hydrogen provides more mileage and lower CO2 emissions than electric cars

New Palm Oil Plantation Permits Moratorium Ends in Indonesia, What Next?

Indonesia is the world’s biggest exporter of palm oil and on 19 September a three-year moratoriom for new oil palm plantation permits expired. There have been no decisions on whether to extend or end it. The decision is crucial to Indonesia finances, the environment and Orangutans.

European Ride Hailing Service FREE NOW Makes Electric Vehicles Default Option For Riders

German based ride-hailing service FREE NOW  announced it will start offering electric vehicles as its default first option for customers in the UK instead of gasoline or diesel vehicles. FREE NOW aims for 100% of its trips to be zero-emission by 2030 across all key European cities

Fed Stress Tests Order Banks to Preserve Capital By Suspending Buybacks and Limit Dividends

The Federal Reserve completed its annual stress test on Thursday for 2020 and additional sensitivity analyses that the Board conducted in light of the coronavirus event. The Fed capped bank dividend payments and suspended share-buybacks for the third quarter.